Article: Ex-Shearson Exec To Plead Guilty in Stock-Loan Investigation

Article - Media

Ex-Shearson Exec To Plead Guilty in Stock-Loan Investigation

Stefan Fatsis

Associated Press, 7 September 1989

The expected guilty plea by Dennis T. Palmeri, Shearson’s former executive vice president in charge of stock loans, would be the first action following more than a year of examination by federal prosecutors.

The case also is said to be derived from information from jailed speculator Ivan F. Boesky, a major source of evidence for Wall Street securities investigations since he was ensnared in an insider trading probe in 1986.

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Article: N.Y. Grand Jury Probes Stock Loan Practices

Article - Media

N.Y. Grand Jury Probes Stock Loan Practices

Steve Coll and David Vise

Washington Post, 21 July 1989

NEW YORK, JULY 20 — The Manhattan U.S. attorney is conducting a criminal investigation of Wall Street’s lucrative securities lending business, focusing on an official of Shearson Lehman Hutton Inc., according to documents and sources familiar with the case.

Subpoenas issued as part of the grand jury investigation, while not stating the precise target of the probe, have requested witnesses to provide records about investments, transactions and accounts involving Dennis Palmeri, who supervises all of Shearson’s stock loan operations.

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Graphic: Naked Short Selling — 32 Years of Cheating the 99%! Can President Donald Trump Stop It?


The media always has a single teaser so they can say “we told you so” and then they bury the story.  Same thing happened with 2008, in October a pro forma alarm was sounded and then the story buried.

See this post for how it works.

Video: Ekso Bionics Killed by Naked Short Sellers – Is HCWainwright Culpable for Front-Running Their Death?